How to Feel Like an Entrepreneur Without Risking a Thing

April 18th, 2013

Today Ypulse staffer Phil Savarese takes us through the growing category of online services that are allowing Millennials to feel like the entrepreneurs they want to be, without the investments and risks they can’t afford to make.

No Risk(y) Business

Millennials have been viewed as extremely entrepreneurial. Their non-traditional approach to achieving their career aspirations leads many to view them as an entire group of future Zuckerbergs. And though they might aspire to be, Millennials are also a risk-averse generation. Witnessing their parents make risky (and sometimes irresponsible) financial decisions as the economy began to fail has affected them greatly. Often called the children of the recession, they are well aware of the importance in being financially responsible. As one 24-year-old Gen Y told us, “My generation has learned [not to] take financial risks. Play it safe and save.” Ypulse’s research has found that 46% of Millennials 14-to-29-years-old would rather have stability working for a larger company than risk losing their own money to start a business. At the same time, 81% admire those who do start their own companies. Clearly, there is a tension between their appreciation for the entrepreneurial spirit and their recently validated fear of losing what little money some have managed to make. The problem lies in who is willing to take that big jump and invest all they have into their idea.

Enter the age of the no-risk entrepreneur. Online retail tools are providing an increasing number of ways for Gen Ys to feel like they are starting a business, without any of the traditional burdens and dangers. Here are three services currently offering viable outlets for the risk-averse Millennial entrepreneur to satisfy their urge for self-made success.

Want to talk to us about the article or dive into a custom study?

The Newsfeed

“It[‘s] only about the music for me, nothing else dictates what I listen to, I either like it or I don't.”—Male, 28, WA

A new app is getting teens’ attention as it rises through the ranks of the new social apps to know, even surpassing Houseparty’s popularity—but the catch is it’s “piggyback[ing]” on Snapchat. Polly allows users to create anonymous surveys that they can send on Snapchat (there's that anonymity allure again), meaning many users may not have actually downloaded the Polly app, so they “could slip away if friends stop posting questions.” For now though, the app amassed 20 million users and 100 million answers last month, proving it’s one to keep an eye on. (TechCrunch)

Designers are taking to social media to “shame” the retailers ripping off their work. When Zoila Darton spotted a Forever 21 shirt eerily similar to the one she helped create to benefit Planned Parenthood, she posted a tweet to let the brand know their copycat didn’t go unnoticed—and quickly gained attention from fashion editors and others. This isn’t the first time pieces have been copied by Forever 21, but designers have a hard time taking legal recourse against the powerful company. Instead, social media posts are often their best bet. (NYTimes)

BeautyCon is continuing to take “Sephora and Coachella and smash it into one thing” to appeal to young consumers. At the latest L.A. event, 20,000 beauty fans came to meet their influencer idols and try out the latest makeup trends, surrounded by empowering slogans and messages—true to the brand’s idea that “beauty can be something beyond a concealer culture.” Of course, brands were there “to win over the new generation”—ChapStick Duo offered cotton candy while Rimmel London’s “slayground” gave attendees a chance to set down their makeup and enjoy a jungle gym and swing set.
(The New Yorker)

It turns out saving money might not be cord cutters’ top reason for switching to streaming. Instead, a recent Magid Associates survey found that “the attractions” of SVOD programming (aka their content) is their top reason for making the move, followed by the overall decline of TV-viewing among 18-24-year-olds. Cable companies are trying to reel The Post-TV Gen back in by offering lower-cost cable bundles (so-called “skinny bundles”), but stepping up their shows might be a better first step to reversing the “accelerating” trend of cutting the cord. (TheStreet)

Pokémon is reaching out to a new generation of trainers with its first app for preschool-aged kids. Pokémon Playhouse follows in the wake of the massively successful augmented reality app, Pokémon Go (which was so popular that we put together an entire infographic on it) but won’t be AR-based. Instead, Playhouse will tap into the collectibles trend by featuring favorite characters like Pikachu for kids to collect by completing activities. There will also be puzzles and more in the app’s “interactive park.” (Kidscreen)

“I'm literally listening to music any time it is socially acceptable.”—Female, 28, MN